S & U PLC
06 December 2007


Interim Management Statement

S&U plc are the foremost niche consumer and motor finance provider in the UK,
providing a reliable, consistent and trustworthy service to over 130,000
customers. As required by the revised Listing Authority Disclosure and
Transparency rules, I am pleased to present our interim management statement for
the period from 1st August 2007 to 6th December 2007.

Revenue in our home collected operations has grown by 3% versus the same period
last year when we increased representative numbers by 20%. This year that growth
has been consolidated and during the period the business has successfully
focussed on improving cost efficiency and debt control. We are encouraged that
customer collections have grown substantially and debt quality improved. We are
now starting the key Christmas sales period and early indications are good
although we do not expect significant growth versus Christmas last year.

New deal volumes for Advantage slowed in the period although potential margins
per deal were improved. New deal volumes are now 8% ahead year to date.
Collections and impairment levels continue to be stable as we approach the key
Christmas collection period.

Borrowings at the end of the period are similar to the half yearend reflecting
net positive trading cash generation offset by the payment of the interim
dividend to shareholders.

In marked contrast to the gyrations of the stock-market, both generally in our
sector, and in S&U's share price, our trading remains stable and resilient and
we view current trading with confidence.

Anthony M V Coombs
Managing Director



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